HomeMy WebLinkAboutCity Council Resolution 2016-012
CP
ITY OF LYMOUTH
RN.2016-012
ESOLUTION O
RASCM
ESOLUTION CCEPTING TREETS FOR ONTINUAL AINTENANCE
KA(2012041)
FOR IRKWOOD DDITION
WHEREAS, in accordance with the development contract dated October 9, 2012, US Homes
Corp., DBA Lennar, developer of Kirkwood Addition (2012041), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted
below; and
WHEREAS, the developer has requested a reduction of the required financial guarantee to
reflect the completed work,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the financial guarantee requirements are reduced as follows:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction $786,681 $ 275,341 $ 196,670
Sanitary Sewer 233,272 58,318 58,318
Watermain 373,873 93,468 93,468
Storm Sewer System 333,181 83,295 83,295
Pond Construction 20,000 5,000 5,000
Street & Traffic Control Signs 6,400 1,600 0
Sidewalk Improvements 68,203 17,053 17,053
Trail Improvements 44,450 15,550 11,113
Landscaping 429,800 29,600 18,650
Street Lighting 55,000 0 0
Erosion Control and Seeding 59,178 11,835 11,835
Site Grading and Drainage 245,360 61,340 61,340
Improvements
Setting Iron Monuments 15,600 0 0
Retaining Walls 13,087 0 0
Wetland Mitigation/Restoration 75,000 75,000 75,000
Design, Administration, Inspection, As-331,090 33,109 33,109
Builts(12%)
Total: $3,090,175 $760,509 $664,851
That the required financial guarantee and Letter of Credit No. 63670110 for the above items be reduced
from $760,509 to $664,851.
BE IT FURTHER RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved Development Contract remain as follows:
ORIGINAL CURRENT
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 1,000 $ 1,000
BE IT FURTHER RESOLVED that the utilities are accepted for continuous maintenance as of
January 12, 2016, subject to the one-year guarantee by the Developer per Letter of Credit No.
63670110.
APPROVED by the City Council on this 12th day of January, 2016.